How Much Money Should Be Investing To Retire Early?

The answer it depends, some people are like me weirdos, we can do a lot with very little, I feel like I can buy the planet with $1000 bucks per month, but for some people they don’t think 10k per month is enough.

So the goal with this video is simple, it’s to teach how to run the numbers, to see how much money it’s going to take for you retire with your ideal lifestyle and I’ll also give you some retirement hacks the end of the video that not many people consider

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1. First decide how much per month you need to retire

-This number is easy to figure out

-Just think about shelter, utilities, groceries and transpiration and then all the fun you want to have

-Run those number and see what they add up per month

For me personally: This is the Needs and if I want Fun

-With a paid of home shelter is like $300 bucks per month

-Groceries for me: $300

-Utilites: $300

-Car Paid off: $100

-Lets say $1000 bucks per month for fun ( which is a lot of money )

The Con with this plan is the following

-It takes 10-15 years on average with our plan to pay off a home

2. How much in Income do you Need

-This numbers a lot of times fools people

It’s because most people think about the stock market, but you also have real estate and you also have businesses

-Check this out

Stocks: 8% returns

-You can only take 4% to allow the stocks to keep growing and insure you don’t run out of money

-So the math is your annual expenses by 25x

Real estate: 8% returns

-Cool thing about real estate is that the property value foes up and you can take all the cash flow once you have a little emergency account for maintenance and vacancies

-So that 8% return means you can retire with 12.5x

Business: 20% returns

-My uncle likes this, with his multiple business like groceries store, car dealer, and financing company let’s say he can get a 20%

-That means you only need 5x your money

-But obviously the risk is higher

3. What do I recommend

-Don’t rely on one source for retirement

-I use to be very heavy on stocks and then I changed my mind

-It’s never good to put all your eggs in one basket

So here is my strategy:

-Invest 20% in the stocks market indefinitely

-Use all the left over money to save up for real estate to buy in cash and built up some rental income

-As far as business, I keep running my own small business from my little bedroom

Retirment Hacks I promised you

-Work part time and retire faster

-Want less and retire faster

-Switch countries and retire faster

Think about it:

-If you need $4000 in income

-And you can work and make 2k per month and work half the hours

-That’s a lot better than working full time and waiting years

-Just make sure you like the job

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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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